Business Insights – Prime business articles

We are delighted to inform you that with Prime Strategies Group being a long-term registered Training Provider with Regional Business Partner Network (RBPN), we can offer a registered COVID-19 specific service providing access to government funded advice (for those eligible potentially up to $5000 excl GST), for our COVID-19 specific…

The COVID-19 crisis has had a significant impact on small and medium-sized enterprises (SMEs). In recognition of the challenges facing business, the Government has already introduced a wide range of measures to assist businesses through the crisis. These include the wage subsidy scheme, the Business…

Here are seven steps to help you communicate the impact of a situation and next steps to your customers. 1. Show that you care People seek connection during times of uncertainty. Companies in our communities play a role in this. Consider a message to customers…

Businesses often claim that their number one focus is customer service, but when questioned, find it difficult to describe how this is executed and what this means for their customers. It’s important to define the difference between customer service and the customer experience. Customer service…

Safe Harbour Subject to it being agreed to by Parliament, the announcement recently will provide a safe harbour from sections 135 and 136 of the Companies Act 1993 on the following terms: Directors’ decisions to keep on trading, as well as decisions to take on…

Remember – MONEY IN must be greater than MONEY OUT With COVID-19 Business lockdown now into week 3 of the four predicted, there are some questions business owners should be asking themselves: Have you taken a stocktake of your business’s financial position? What are your…

Source: www.business.govt.nz The Government and the Banks released details of the Business Finance Guarantee Scheme in early April. Download a summary of the Scheme below, along with details of the Mortgage Holiday Scheme.

In these challenging times, we ask ourselves:Has our mission at Prime Strategies Group changed over the past few weeks? “To help SME business in New Zealand get past that barrier of not knowing what to do next”. Whether that be: Making more money Spending more…

Managing your own time against the multiple demands of running a business is difficult enough but when it comes to managing employees’ time and productivity it can be a mammoth task. However it’s hugely important for the running of an efficient and profitable business. In…

Generating new business to grow your customer base is crucial for long term business success, but it’s also critical to take exceptional care of the customers you already have. Both of these areas of business management have challenges and opportunities. Here are seven ideas aimed…

At Prime Strategies we love graphs. This one below encapsulates the behaviour of many SME’s (Small to Medium sized Enterprises) showing why they don’t go on to become the huge success that they originally intended to be. It demonstrates that when we are risk taking,…

By Sreekanth Ravi for Entrepreneur. “Starting a business has never been more exciting. The startup economy is rich with opportunity, innovation and potential. But at the same time, it is also fraught with high-stakes risks. And while it may be scary to take that leap of faith,…

Choosing the correct business structure when you start out in business is very important for a number of reasons – not least that the wrong business structure may be costly to change later on. Often people assume that they need to form a company to…

By Clark Gilbert & Matthew Eyring for the Harvard Business Review “For nearly 20 years the case study used to introduce Harvard Business School’s Entrepreneurial Management course has been Howard Stevenson’s “R&R.” It looks at Bob Reiss, an entrepreneur who launches a venture in the board-game…

By Johnathan Long, VIP Contributor, for Entrepreneur Technology can always improve your business, but you don’t need it to grow. “We should all be focusing on technology to help grow sales — the digital transformation of most aspects of commerce has created more business leverage than just…

By John Rampton for Entrepreneur. Starting a business is tough and challenging on all fronts. Here’s some wisdom that may ease your load as you navigate new terrain. Entrepreneurship can be a tough and long journey for many people. Some get lucky and succeed the…

Marc Wayshak, sales strategist and bestselling author of “Game Plan Selling” (Breakthrough Success Publishing, 2012) and “Breaking All Barriers” (CreateSpace Independent Publishing Platform, 2012), spoke with Business News Daily and broke down the five keys to successful selling in today’s world based on his recent survey findings. He points…

Are you passionate about leadership? Or uncertain if you have that je ne c’est quoi for inspiring a team? Not everyone is born to lead, but with determination and learned skills, most people can develop and cultivate their leadership skills enough to do well in…

Business growth is really exciting – you have a great product, you’re reaching the right people – but it’s crucial to have a sturdy business plan. Here’s a list of 7 things to check your performance against. Do: Research, Set goals, Get feedback, Target new…

Do you know who your target audience is? For most businesses, the answer is yes. Knowing who will buy your product or service is a key part of creating a business that thrives. “The more specific you can get [with your strategy], the easier it…

There is an evident difference between a leader and a boss, and the way they make those below them feel. Do they abuse their power to intimidate workers, or do they lead by example? The latter is key to managing a healthy, happy team. “In…

The thought of quintupling business growth in under 12 months may sound impossible, but Scott Oldford has done it himself (learn more in the article by Scott for Entrepreneur) – and helped others achieve the same amazing business growth too. “You may find it’s easier…

I talk at length to my clients about how owning a business should not be thought of as having a job. It may feel like that at times, however a business should be an answer to what the owner wants from life – owning a…